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11 Lessons From Chick-fil-A on Entrepreneurship and Marketing Strategy

May 2010 Corporate 2 Comments

Recently I attended an event where Dan Cathy, President and Chief Operating Officer for Chick-fil-A in Chicago, speech. During the talk Dan evangelized the values of Chick-fil-A which include treating customers and employees with respect. Dan also stated that “We distinguish our product based on the value we provide rather than price.” Though I had never stepped foot in a Chick-fil-A restaurant, that comment tripped me off to the fact that I was about to experience a story about a unique entrepreneurial enterprise known as Chick-fil-A!

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Business Markets Game Changers
Reenergized Emerging Markets and Renewed Pricing Power

May 2010 Corporate, Pricing

The game in business markets has changed. The opportunity landscape has shifted from the stalwarts of North American and Europe to the onetime turbulent and unstable emerging markets. Furthermore, the pricing power that shrank to the ether is returning to the tangible as markets return to growth. These are bold claims and require bold reengineering of corporate strategy. Before you the reader consider these to be audacious statements from an ill informed outsider on unimportant and irrelevant industries, let me provide the evidence.

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“In an authentic world failure is something you embrace. It’s almost a noble pursuit. I come from that world—it supported me in creating the punk aesthetic.” Malcolm McLaren, Manager of the Sex Pistols

  1. The main drivers to entrepreneurship are economic growth and unemployment.
  2. Both the necessity driven entrepreneur and the opportunity seeking entrepreneur are equally likely to succeed.
  3. The first challenge of an entrepreneur is to create and capture a profitable customer.
  4. Most entrepreneurs fail to succeed in their first enterprise.
  5. Failure today is a learning experience of what didn’t work. Tomorrow, it is time to try again … and again … and again until you get it right.
  6. As an entrepreneur, be an effectual thinker and create your own future with determination.